Illinois Municipal Retirement Fund Buys Shares of 1,840 Ubiquiti Inc. (NYSE:UI)

Illinois Municipal Retirement Fund bought a new stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,840 shares of the company's stock, valued at approximately $571,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Versant Capital Management Inc grew its holdings in Ubiquiti by 484.2% during the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company's stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Ubiquiti by 47.0% during the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock valued at $40,000 after buying an additional 39 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Ubiquiti during the first quarter valued at approximately $50,000. Sterling Capital Management LLC raised its holdings in shares of Ubiquiti by 30.2% in the fourth quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock worth $56,000 after buying an additional 39 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of Ubiquiti during the 4th quarter worth approximately $74,000. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Stock Up 2.8%

NYSE:UI traded up $11.33 during midday trading on Friday, hitting $423.05. The stock had a trading volume of 66,014 shares, compared to its average volume of 87,028. The stock has a 50-day moving average of $389.68 and a 200 day moving average of $357.83. The company has a market capitalization of $25.59 billion, a price-to-earnings ratio of 46.59 and a beta of 1.34. Ubiquiti Inc. has a one year low of $145.35 and a one year high of $469.98.

Ubiquiti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Monday, May 19th. Ubiquiti's dividend payout ratio (DPR) is 26.43%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays lifted their target price on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. BWS Financial reaffirmed a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research note on Monday, May 12th.

Ubiquiti Company Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.